IWS vs. IVV

Last updated Aug 2, 2026

IWS (iShares Russell Mid-Cap Value ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - IWS is a Mid Cap Value Equities fund tracking the Russell Midcap Value Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IWS returned 10.30%/yr vs 15.11%/yr for IVV. Their correlation of 0.88 means they have usually moved in the same direction. IWS charges 0.23%/yr vs 0.03%/yr for IVV.

Performance

IWS vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Value ETF (IWS) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWS achieves a 19.19% return, which is significantly higher than IVV's 10.13% return. Over the past 10 years, IWS has underperformed IVV with an annualized return of 10.30%, while IVV has yielded a comparatively higher 15.11% annualized return.

IWS

• 1D: -0.31%
• 1M: 0.62%
• 6M: 14.40%
• YTD: 19.19%
• 1Y: 27.66%
• 3Y*: 15.33%
• 5Y*: 9.45%
• 10Y*: 10.30%
• ALL TIME*: 9.96%

IVV

• 1D: 0.69%
• 1M: 0.25%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.55%
• 3Y*: 19.40%
• 5Y*: 12.82%
• 10Y*: 15.11%
• ALL TIME*: 8.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IVV iShares Core S&P 500 ETF	$3.36B	$3.31B	$5.91B
IWS iShares Russell Mid-Cap Value ETF	$90.38M	$82.14M	$73.71M

IWS vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWS iShares Russell Mid-Cap Value ETF	19.19%	10.82%	12.91%	12.52%	-12.29%	28.10%	4.83%	26.73%	-12.43%	13.14%
IVV iShares Core S&P 500 ETF	10.13%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between IWS and IVV is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jul 24, 2001	0.88

Over the past year, the correlation between IWS and IVV has dropped to 0.67 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

IWS vs. IVV - Sectors Allocation Comparison

Sectors	IWS	IVV
Financial Services	16.3%	12.5%
Industrials	14.9%	7.9%
Technology	13.3%	37.2%
Healthcare	9.9%	9.4%
Real Estate	8.7%	1.9%
Consumer Cyclical	8.5%	8.9%
Utilities	7.2%	2.6%
Energy	7.1%	3.3%
Basic Materials	5.9%	1.8%
Consumer Defensive	5.7%	4.8%
Communication Services	2.4%	9.6%

Return for Risk

IWS vs. IVV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IWS

IWS Risk / Return Rank: 85
IWS Sharpe Ratio Rank: 84
IWS Sortino Ratio Rank: 85
IWS Omega Ratio Rank: 81
IWS Calmar Ratio Rank: 87
IWS Martin Ratio Rank: 88

IVV

IVV Risk / Return Rank: 67
IVV Sharpe Ratio Rank: 68
IVV Sortino Ratio Rank: 64
IVV Omega Ratio Rank: 65
IVV Calmar Ratio Rank: 64
IVV Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IWS vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) and iShares Core S&P 500 ETF (IVV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IWS	IVV	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.53	+0.42
Sortino ratio: Return per unit of downside risk	2.81	2.12	+0.69
Omega ratio: Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	3.47	2.21	+1.25
Martin ratio: Return relative to average drawdown	13.35	9.43	+3.93

IWS vs. IVV - Sharpe Ratio Comparison

The current IWS Sharpe Ratio is 1.94, which is comparable to the IVV Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of IWS and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IWS vs. IVV - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for IWS and IVV.

Drawdown Indicators

	IWS	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-62.40%	-55.25%	-7.15%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-8.89%	+1.36%
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	-18.75%	-1.82%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-24.53%	+3.30%
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	-33.90%	-9.93%
Current Drawdown Current decline from peak	-1.38%	-1.41%	+0.03%
Average Drawdown Average peak-to-trough decline	-7.97%	-10.72%	+2.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.09%	-0.14%

Volatility

IWS vs. IVV - Volatility Comparison

The current volatility for iShares Russell Mid-Cap Value ETF (IWS) is 2.96%, while iShares Core S&P 500 ETF (IVV) has a volatility of 3.52%. This indicates that IWS experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWS	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	3.52%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	10.18%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	13.46%	12.89%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.26%	17.01%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	18.06%	+1.24%

IWS vs. IVV - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is higher than IVV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWS vs. IVV - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.30%, more than IVV's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.09%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
IWS iShares Russell Mid-Cap Value ETF	1.30%	1.53%	1.50%	1.76%	1.93%	1.39%	1.87%	1.97%	2.53%	1.96%	2.10%	2.14%

Frequently Asked Questions

Can I hold both IWS and IVV in my portfolio?

IWS and IVV have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWS or IVV?

IVV has higher volatility (3.52%) compared to IWS (2.96%). In terms of maximum drawdown, IWS dropped -62.40% vs IVV's -55.25%.

Which ETF is better, IWS or IVV?

On 10-year performance, IVV leads with 15.11% vs 10.30% for IWS. On fees, IVV is cheaper at 0.03% per year. On volatility, IWS has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWS or IVV?

Over the 10-year period, IVV has performed better with a 15.11% return vs 10.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWS or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.23% for IWS.

Which ETF pays a higher dividend yield, IWS or IVV?

IWS has the higher dividend yield at 1.30%, compared with 1.09% for IVV.

What is the main difference between IWS and IVV?

IWS is categorized as Mid Cap Value Equities, while IVV is S&P 500. IWS tracks Russell Midcap Value Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.23% for IWS and 0.03% for IVV.

Which has better risk-adjusted returns?

IWS currently has the higher Sharpe Ratio (1.94 vs 1.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.